{{Short description|American energy Company}} {{Infobox company | name = Vital Energy, Inc. | logo = | type = Public | traded_as = {{New York Stock Exchange|VTLE}}<br>S&P 600 component<BR>Russell 2000 Index component | foundation = {{Start date and age|October 2006}} | founder = Randy A. Foutch | location = Tulsa, Oklahoma, United States | key_people = {{nowrap| Jason Pigott, President & CEO}} | industry = Petroleum industry | products = Natural gas<br>Petroleum | production = {{convert|87|e3BOE|lk=in}} per day (2020) | revenue = {{decrease}} $677 million (2020) | net_income = {{decrease}} -$874 million (2020) | assets = {{decrease}} $1.442 billion (2020) | equity = {{decrease}} -$21 million (2020) | owner = Crescent Energy | num_employees = 257 (2020) | homepage = {{URL|http://vitalenergy.com/}} | footnotes = <ref name=10K>{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1528129/000152812921000026/lpi-20201231.htm | title=Laredo Petroleum, Inc. 2020 Form 10-K Annual Report | publisher=U. S. Securities and Exchange Commission}}</ref> }} '''Vital Energy, Inc.''' (formerly ''Laredo Petroleum, Inc.'') is an American company engaged in hydrocarbon exploration. Incorporated in Delaware, its principal operational headquarters located in Tulsa, Oklahoma.
Laredo Petroleum has no connection or association with Laredo Oil, a penny stock E&P traded on the pink sheet over-the-counter market. The company drills almost all of its wells using what it calls the "earth model", which it claims increases efficiency.<ref>{{cite news | url=https://www.ogj.com/articles/print/volume-113/issue-7/drilling-production/earth-model-assists-permian-asset-valuation.html | title=Earth model assists Permian asset valuation | work=Oil & Gas Journal | date=July 6, 2015}}</ref>
As of December 31, 2020, the firm had {{convert|278|e6BOE|lk=in}} of estimated proved reserves, of which 24% was petroleum, 36% was natural-gas condensates and 39% was natural gas. All of these reserves were in the Permian Basin, where the company controlled 133,199 net acres.<ref name=10K/>
On December 15, 2025, Crescent Energy completed its acquisition of Vital Enerny.<ref>{{Cite web|url=https://finance.yahoo.com/news/crescent-energy-closes-transformative-acquisition-135000753.html|title=Crescent Energy Closes Transformative Acquisition of Vital Energywork=Yahoo! Finance|access-date=2026-01-11|language=en}}</ref>
==History== Founded in 2006 by Randy A. Foutch,<ref name=10K/> the company acquired Broad Oak Energy five years later in a $1 billion transaction, expanding its presence in the Permian Basin and the Cline Shale.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/laredo-petroleum-completes-broad-oak-energy-acquisition-125069114.html | title=Laredo Petroleum Completes Broad Oak Energy Acquisition | publisher=PR Newswire | date=July 6, 2011}}</ref><ref>{{cite news | url=https://www.bizjournals.com/dallas/news/2011/07/06/broad-oak-energy-bought-for-1-billion.html | title=Broad Oak Energy bought for $1 billion | first=Matt | last=Joyce | work=American City Business Journals | date=July 6, 2011}}</ref> On December 20, 2011, the company became a public company via an initial public offering.<ref name=10K/>
In May 2013, the firm sold its assets in the Anadarko Basin in western Oklahoma and Texas to affiliates of EnerVest Ltd for $438 million to raise capital for its drilling activities in the Permian Basin.<ref>{{cite news | url=https://newsok.com/article/3828387/laredo-selling-anadarko-basin-acreage-in-438m-deal | title=Laredo selling Anadarko Basin acreage in $438M deal | first=JAY F. | last=MARKS | work=The Oklahoman | date=May 22, 2013}}</ref><ref>{{cite news | url=https://www.reuters.com/article/laredopetroleum-assetsale/laredo-petroleum-exits-anadarko-basin-with-438-mln-asset-sale-idUSL3N0E229N20130521 | title=Laredo Petroleum exits Anadarko Basin with $438 mln asset sale | work=Reuters | date=May 21, 2013}}</ref>
In July 2016, a year before selling its interest in Medallion Pipeline,<ref>{{cite press release | url=https://globenewswire.com/news-release/2017/10/02/1138719/0/en/Laredo-Petroleum-Announces-Agreement-to-Sell-Interest-in-Medallion-Pipeline.html | title=Laredo Petroleum Announces Agreement to Sell Interest in Medallion Pipeline | publisher=GlobeNewswire | date=October 2, 2017}}</ref> it acquired additional acreage in the Midland Basin for $125 million.<ref>{{cite press release | url=https://globenewswire.com/news-release/2016/07/14/855953/0/en/Laredo-Petroleum-Acquires-Bolt-On-Midland-Basin-Acreage.html | title=Laredo Petroleum Acquires Bolt-On Midland Basin Acreage | publisher=GlobeNewswire | date=July 14, 2016}}</ref><ref>{{cite news | url=https://www.ogj.com/articles/2016/07/laredo-to-increase-midland-basin-holdings.html | title=Laredo to increase Midland basin holdings | work=Oil & Gas Journal | date=July 14, 2016}}</ref> In 2023, Laredo Petroleum rebranded to Vital Energy, Inc.<ref>{{Cite web |date=2023-01-09 |title=Vital Energy Completes Rebranding, Formerly Laredo Petroleum |url=https://finance.yahoo.com/news/vital-energy-completes-rebranding-formerly-120000891.html |access-date=2024-02-26 |website=Yahoo Finance |language=en-US}}</ref>
Oil and gas company, Crescent Energy, agreed to acquire the company in August 2025 in an all-stock deal valued at $3.1 billion, including debt.<ref>{{Cite news |last=Saha |first=Sumit |last2=Khan |first2=Shariq |date=2025-08-25 |title=Crescent Energy to acquire Vital Energy in $3.1 billion shale deal |url=https://www.reuters.com/legal/transactional/crescent-energy-acquire-vital-energy-31-billion-shale-deal-2025-08-25/ |access-date=2025-08-26 |work=Reuters |language=en}}</ref> The transaction was completed three months later.
==See also== * List of oil exploration and production companies
==References== {{Reflist|1}}
==External links== {{Finance links | name = Vital Energy, Inc. | google = VTLE:NYSE | yahoo = VTLE | symbol = VTLE | sec_cik = 1528129 }}
{{Petroleum industry}} {{Authority control}}
Category:2006 establishments in Oklahoma Category:2011 initial public offerings Category:American companies established in 2011 Category:Companies based in Tulsa, Oklahoma Category:Companies listed on the New York Stock Exchange Category:Energy companies established in 2006 Category:Non-renewable resource companies established in 2006 Category:Oil companies of the United States Category:Petroleum in Oklahoma Category:2025 mergers and acquisitions